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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
Friday, 29 May 15
SOUTH KOREAN STATE-OWNED UTILITY KOREA MIDLAND POWER INVITES BIDS FOR 780K MT OF COAL FOR H2' 15
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 780K Metric Tons (MT) of HCV and LCV ...
Thursday, 28 May 15
TIMEBAR FOR DEMURRAGE CLAIMS - SKULD
KNOWLEDGE TO ELEVATE
English law has traditionally had a strict approach to contractually agreed time bars between commercial parties as well ...
Wednesday, 27 May 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Earlier in the year I looked at how the market was reacting to the prolonged fall of the price of oil. Back then it was still unclear if the fallin ...
Tuesday, 26 May 15
HOW HAS THE DROP IN OIL PRICES AFFECTED OTHER COMMODITIES? - CLYDE & CO
KNOWLEDGE TO ELEVATE
The effects of the dramatic drop in the price of both Ice March Brent, the international oil marker, and its US counterpa ...
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- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
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